June 19, 2013

Partner says company failed after Coley took over

BY: AP Staff Writer SEPTEMBER 11, 2012 | MODIFIED: SEPTEMBER 11, 2012 AT 3:31 PM
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WEST BLOOMFIELD TOWNSHIP, Mich. (AP) — A former business partner of a suburban Detroit man who committed suicide after killing a police officer says their company failed two years after Ricky Coley took over controlling interest.

Lyn Tetreau tells The Associated Press that Coley's CNC Holdings private equity company bought 51 percent of Bad Axe-based Translogic Auto Carriers in 2008. The trucking company went into bankruptcy in 2010.

Tetreau owned 49 percent of the Bad Axe company.

An autopsy Tuesday shows the 50-year-old Coley shot himself through the mouth. A police robot found Coley's body in his West Bloomfield Township home Monday evening, about 20 hours after he shot and killed Officer Pat O'Rourke.

Coley was a former auto industry executive who worked for Ford Motor Co. and General Motors before striking out on his own.

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